Medicine Man Technologies Inc (SHWZ): *Verano refinances existing $350 million...

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Medicine Man Technologies Inc (SHWZ)

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Thursday, 10/27/2022 1:57:19 PM

Thursday, October 27, 2022 1:57:19 PM

*Verano refinances existing $350 million credit facility, extending the maturity with a four-year term
*Floating interest rate based on the prime rate and at a current rate of 12.75%, which reflects favorably on Verano given today’s rising-rate environment

So their rate is probably closer to what 15% when you include all the add ons? Also, floating interest rate? Is this normal? I dont really understand it...but it sounds to me like this move was made in desperation because I am not sure who would accept a floating interest rate, especially in these times. In addition, I guess Verano doesnt believe SAFE Banking will pass in the lame duck? Their debt didnt mature until the spring...if they thought SAFE had a chance wouldnt they have held out for a better deal?

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